Raising funding is just purchasing time to be together
Paying people set amounts for set tasks.
Bounty model is tough because
- Immediate shared context is required and onboarding new members to do novel work is hard (upfront costs are large)
- Keeping people engaged after the tasks are difficult (no long term sense of investment)
How can we keep individuals engaged with a project on longer term timescales?
- Encouraging individuals to create projects with the technology/ideas (e.g. through hackathons)
- Through hiring (contractually bound commitment)
Funding individuals/projects/organizations without the expectation of stake. Can be one-time or recurring.
What are the incentives for people to provide grants then? Within web3, a lot of the reason is because of the obsession with profit. Donating to OSS is thereby a way to improve the long term return on their profit/investment. Is this still possible to incentivize grants when the technology/idea itself is not inherently of value (i.e. maybe only has derivative value)?
Unfortunately, billionaries don’t actually do anything. Even if they start with good intentions, they get cynical the more they progress and ‘make it to the top’. After having huge amounts of capital, they are scared to give it out as the people who make their way in front of these people are the fakes. Because of the competition, the people who successfully can present are the ones who spent the time polishing the pitch rather than doing fundamental research and important breakthroughs.